L 
318
-2.15%
Close of 9 Nov 2026, in JPY
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in JPY, from our data supplier.
Revenue
¥1.42bn
FY2017FY2026
Net income
−¥73.5m
FY2017FY2026
Free cash flow
−¥112.4m
FY2017FY2026
Shareholders' equity
¥415.2m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.42bn | ¥1.61bn | ¥2.05bn | ¥2.69bn | ¥2.68bn | ¥3.96bn | ¥2.71bn | ¥2.37bn | ¥1.61bn | ¥911.8m |
| Gross profit | ¥346.3m | ¥283.5m | ¥436.9m | ¥627.5m | ¥589.1m | ¥722.7m | ¥549.7m | ¥586.8m | ¥396.2m | ¥230.4m |
| Operating income | −¥45.0m | −¥162.2m | −¥7.7m | ¥134.6m | ¥25.2m | ¥174.6m | ¥63.6m | ¥175.4m | ¥125.5m | ¥45.9m |
| Net income | −¥73.5m | −¥189.4m | −¥47.0m | ¥126.4m | −¥677.6m | −¥25.9m | ¥41.0m | ¥104.4m | ¥104.8m | ¥63.5m |
| Diluted earnings per share | -19.32 | -49.80 | -12.35 | 33.25 | -182.00 | -7.09 | 7.12 | 27.24 | 27.39 | 19.19 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥913.2m | ¥1.12bn | ¥1.48bn | ¥1.89bn | ¥1.96bn | ¥2.27bn | ¥2.31bn | ¥1.74bn | ¥965.4m | ¥675.2m |
| Cash and short-term investments | ¥459.1m | ¥755.0m | ¥1.02bn | ¥1.33bn | ¥1.38bn | ¥1.64bn | ¥1.53bn | ¥1.36bn | ¥722.0m | ¥447.7m |
| Total liabilities | ¥497.9m | ¥629.4m | ¥805.8m | ¥1.28bn | ¥1.47bn | ¥1.04bn | ¥1.13bn | ¥522.6m | ¥411.5m | ¥226.2m |
| Debt | ¥103.2m | ¥263.2m | ¥423.4m | ¥717.6m | ¥972.1m | ¥363.3m | ¥517.8m | ¥50.0m | ¥50.0m | ¥50.0m |
| Shareholders' equity | ¥415.2m | ¥487.0m | ¥676.9m | ¥615.7m | ¥489.2m | ¥1.22bn | ¥1.18bn | ¥1.21bn | ¥553.8m | ¥449.0m |
| Shares outstanding | 4m | 4m | 4m | 4m | 4m | 4m | 6m | 4m | 4m | 3m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −¥111.1m | −¥131.5m | −¥112.6m | ¥207.7m | −¥195.6m | ¥241.7m | ¥107.8m | ¥195.0m | ¥275.8m | ¥44.6m |
| Capital spending | −¥1.3m | −¥2.4m | −¥646,000 | −¥2.7m | −¥937,000 | −¥3.6m | −¥1.7m | −¥40.8m | −¥1.4m | −¥11.8m |
| Free cash flow | −¥112.4m | −¥133.9m | −¥113.3m | ¥205.1m | −¥196.5m | ¥238.1m | ¥106.1m | ¥154.2m | ¥274.3m | ¥32.8m |
| Dividends paid | — | — | — | −¥49.5m | −¥850.0m | — | −¥620.0m | −¥150.3m | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥346.4m | ¥384.1m | ¥321.7m | ¥350.3m | ¥367.8m | ¥424.6m | ¥407.3m | ¥388.9m |
| Gross profit | ¥84.1m | ¥109.7m | ¥71.4m | ¥85.2m | ¥80.0m | ¥67.9m | ¥72.5m | ¥69.3m |
| Operating income | −¥21.1m | ¥12.2m | −¥25.9m | −¥10.1m | −¥21.2m | −¥35.6m | −¥38.2m | −¥44.4m |
| Net income | −¥33.0m | ¥4.8m | −¥2.9m | −¥46.0m | −¥29.3m | −¥50.9m | −¥43.5m | −¥46.3m |
| Diluted earnings per share | -8.68 | 1.26 | -0.77 | -12.11 | -7.71 | -13.37 | -11.43 | -12.18 |
| Total assets | ¥789.4m | ¥913.2m | ¥873.6m | ¥894.2m | ¥985.8m | ¥1.12bn | ¥1.32bn | ¥1.26bn |
| Cash and short-term investments | ¥413.6m | ¥459.1m | ¥467.3m | ¥547.4m | ¥627.2m | ¥755.0m | ¥786.3m | ¥824.5m |
| Debt | ¥91.0m | ¥103.2m | ¥154.3m | ¥188.2m | ¥225.7m | ¥263.2m | ¥250.0m | ¥338.2m |
| Shareholders' equity | ¥371.7m | ¥415.2m | ¥408.4m | ¥411.7m | ¥457.7m | ¥487.0m | ¥623.1m | ¥582.6m |
Financial ratios
Data as of 5 Nov 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 24.3% | 17.7% | 21.3% | 23.3% | 22.0% | 18.2% |
| Operating margin | -3.2% | -10.1% | -0.4% | 5.0% | 0.9% | 4.4% |
| Net margin | -5.2% | -11.8% | -2.3% | 4.7% | -25.3% | -0.7% |
| Return on equity | -17.7% | -38.9% | -6.9% | 20.5% | -138.5% | -2.1% |
| Return on assets | -8.0% | -17.0% | -3.2% | 6.7% | -34.6% | -1.1% |
| Free cash flow yield | -8.9% | -10.5% | -9.1% | 17.1% | -16.2% | 20.8% |
| Revenue growth | -11.3% | -21.9% | -23.6% | 0.3% | -32.3% | 46.3% |
| Earnings growth | -61.2% | 303.1% | -137.2% | -118.7% | 2511.5% | -163.3% |
| Current ratio | 1.49x | 1.57x | 2.00x | 1.81x | 2.02x | 2.56x |
| Debt to equity | 0.25x | 0.54x | 0.63x | 1.17x | 1.99x | 0.30x |
| Equity ratio | 45.5% | 43.6% | 45.7% | 32.5% | 24.9% | 53.8% |
| Interest coverage | -15.68x | -55.03x | -3.59x | 38.93x | 7.25x | 49.00x |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | -2.2% | -1.8% | 36.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -19.1% | -18.5% | 13.4% |
| Operating income | — | — | -2.2% |
| Net income | — | 23.1% | 2.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.8% | 21.8% | 20.9% | 21.5% |
| Operating margin | -6.8% | -1.0% | 0.8% | 2.1% |
| Net margin | -8.7% | -2.4% | -6.2% | -2.8% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -16.7 | -6.5 | -25.9 | 17.9 | -4.3 | -94.6 | 393.1 | 36.5 | 83.0 |
| Price to sales | 0.9 | 0.8 | 0.6 | 0.8 | 1.1 | 0.6 | 6.0 | 1.6 | 5.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 29 Sept 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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